In a remarkable feat, real estate giant DLF has witnessed overwhelming success with its high-end luxury residential development, DLF Privana South, in Gurugram. The pre-formal launch sales for the project amounted to a staggering Rs 7,200 crore and were completely sold out within a mere 72 hours, as reported in a regulatory filing by the company.
The luxury housing project, sprawling across approximately 25 acres in sectors 76 and 77 near the Southern Peripheral Road (SPR), comprises 1,113 meticulously designed luxury residences across seven towers, offering 4 BHK apartments and penthouses. DLF Privana South provides a majestic view of the Aravalli range and is strategically located in proximity to the upcoming Safari Park spread over 10,000 acres.
Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd., noted that the swift pre-launch sell-out underscores the increasing demand for high-rise luxury developments by DLF. To manage demand, each buyer was allotted only one unit with a booking amount of Rs 50 lakh, deviating from the industry standard of Rs 10 lakh. Notably, around 25 percent of sales came from Non-Resident Indians (NRIs), and the average ticket price for one apartment is approximately Rs 7 crore.
DLF Privana South is part of the larger development ‘DLF Privana,’ spread over approximately 116 acres in Sectors 76 and 77, marking DLF’s entry into the SPR region. The project strategically positions itself near the confluence of SPR, NH-48, Dwarka Expressway, and Central Peripheral Road (CPR).
This achievement follows DLF’s record-breaking pre-formal launch sales of over Rs 8,000 crore for ‘The Arbour’ luxury housing project in March 2023, which was completely sold out before the official launch.
DLF Group, with a rich history of developing over 158 real estate projects and an area exceeding 340 million square feet, maintains a strong presence in both residential and commercial segments. The company’s sales bookings touched Rs 2,228 crore in Q2, achieving a net cash-positive status during the quarter.
